EX-25.1 5 a2195857zex-25_1.htm EX-25.1

Exhibit 25.1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 


 

FORM T-1

 


 

STATEMENT OF ELIGIBILITY UNDER THE
TRUST INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE

 

Check if an Application to Determine Eligibility of

a Trustee Pursuant to Section 305(b)(2)  o

 


 

U.S. BANK NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

 

31-0841368
(I.R.S. Employer Identification No.)

 

800 Nicollet Mall
Minneapolis, Minnesota

 


55402

(Address of principal executive offices)

 

(Zip Code)

 


 

Jack Ellerin
U.S. Bank National Association
1349 West Peachtree Street
Suite 1050
Atlanta, Georgia 30309
(404) 898-8830
(Name, address and telephone number of agent for service)

 

Oglethorpe Power Corporation

(An Electric Membership Corporation)

(exact name of obligor as specified in its charter)

 

Georgia

(State or other jurisdiction of incorporation or organization)

 

58-1211925

(I.RS. Employer Identification No.)

 

 

 

2100 East Exchange Place

Tucker, Georgia

 (Address of principal executive offices)

 


30084-5336

(Zip Code)

 


 

5.95% First Mortgage Bonds, Series 2009 B due 2039
(Title of the indenture securities)

 

 

 



 

Item 1.             General information.

 

Furnish the following information as to the trustee:

 

(a)                Name and address of each examining or supervising authority to which it is subject.

 

Comptroller of the Currency
Washington, D.C.

 

Federal Deposit Insurance Company
Washington, D.C.

 

The Board of Governors of the Federal Reserve System
Washington, D.C.

 

(b)               Whether it is authorized to exercise corporate trust powers.

 

Yes.

 

Item 2.             Affiliations with Obligor.

 

If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None.

 

Items 3.-15.                  Items 3 – 15 are not applicable because, to the best of the  knowledge of U.S. Bank National Association (the “Trustee”) the obligor is not in default under any indenture under which the Trustee acts as trustee.

 

Item 16.           List of Exhibits.

 

List below all exhibits filed as a part of this statement of eligibility; provided that exhibits identified in parentheses are filed with the Commission and are incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under the Trust Indenture Act of 1939, as amended, and 17 C.F.R. 229.10(d).

 

1.              A copy of the articles of association of the Trustee as now in effect.  (Exhibit 25.1 to Amendment No. 2 to Form S-4, Registration Number 333-128217, filed by Revlon Consumer Products Corp.)

 

2.              A copy of the certificate of authority of the Trustee to commence business, is contained in the articles of association referred to in Paragraph 1 above.

 

3.              A copy of the authorization of the Trustee to exercise corporate trust powers.  (Exhibit 25.1 to Form S-3ASR, Registration Number 333-155592, filed by ONEOK, Inc.)

 

4.              A copy of the existing by-laws of the Trustee as now in effect.  (Exhibit 25.1 to Form S-4, Registration Number 333-145601, filed by iPCS, Inc.)

 

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5.              A copy of each indenture referred to in Item 4, if the obligor is in default.

 

Not Applicable.

 

6.              The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

 

7.              A copy of the latest report of condition of the Trustee published pursuant to law or the requirements of its supervising or examining authority as of the close of business on September 30, 2009, attached as Exhibit 7.

 

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SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, the trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Atlanta, State of Georgia, on the 15th day of December, 2009.

 

 

U.S. BANK NATIONAL ASSOCIATION

 

 

 

 

 

By:

/s/ Jack Ellerin

 

 

Jack Ellerin

 

 

Vice President

 

4



 

Exhibit 6

 

CONSENT OF TRUSTEE

 

In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION, hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District Authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

 

Dated:  December 15, 2009

 

 

 

U.S. BANK NATIONAL ASSOCIATION

 

 

 

 

 

By:

/s/ Jack Ellerin

 

 

Jack Ellerin

 

 

Vice President

 

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Exhibit 7

 

REPORT OF CONDITION
(ATTACHED)

 

6



 

U.S. BANK NATIONAL ASSOCIATION     FFIEC 031

 

RSSD-ID 504713

 

Quarter End Date 9/30/2009

Last Updated on 10/30/2009

 

 

 

Schedule RC — Balance Sheet

 

Dollar amounts in thousands

 

1.

Cash and balances due from depository institutions (from Schedule RC-A):

 

 

 

 

 

1.

 

 

a.

Noninterest-bearing balances and currency and coin

 

RCFD0081

 

4,763,007

 

1.a.

 

 

b.

Interest-bearing balances

 

RCFD0071

 

517,932

 

1.b.

 

2.

Securities:

 

 

 

 

 

2.

 

 

a.

Held-to-maturity securities (from Schedule RC-B, column A)

 

RCFD1754

 

48,260

 

2.a

 

 

b.

Available-for-sale securities (from Schedule RC-B, column D)

 

RCFD1773

 

40,515,118

 

2.b.

 

3.

 

Federal funds sold and securities purchased under agreements to resell:

 

 

 

 

 

3.

 

 

a.

Federal funds sold in domestic offices

 

RCONB987

 

3,740,525

 

3.a.

 

 

b.

Securities purchased under agreements to resell

 

RCFDB989

 

0

 

3.b.

 

4.

 

Loans and lease financing receivables (from Schedule RC-C):

 

 

 

 

 

4.

 

 

a.

Loans and leases held for sale

 

RCFD5369

 

6,030,194

 

4.a.

 

 

b.

Loans and leases, net of unearned income

 

RCFDB528

 

177,668,468

 

4.b.

 

 

c.

LESS: Allowance for loan and lease losses

 

RCFD3123

 

4,573,534

 

4.c.

 

 

d.

Loans and leases, net of unearned income and allowance (item 4.b minus 4.c)

 

RCFDB529

 

173,094,934

 

4.d.

 

5.

Trading assets (from Schedule RC-D)

 

RCFD3545

 

1,327,626

 

5.

 

6.

Premises and fixed assets (including capitalized leases)

 

RCFD2145

 

2,225,493

 

6.

 

7.

Other real estate owned (from Schedule RC-M)

 

RCFD2150

 

989,664

 

7.

 

8.

Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M)

 

RCFD2130

 

76,659

 

8.

 

9.

Direct and indirect investments in real estate ventures

 

RCFD3656

 

0

 

9.

 

10.

Intangible assets:

 

 

 

 

 

10.

 

 

a.

Goodwill

 

RCFD3163

 

8,584,806

 

10.a.

 

 

b.

Other intangible assets (from Schedule RC-M)

 

RCFD0426

 

4,177,523

 

10.b.

 

11.

Other assets (from Schedule RC-F)

 

RCFD2160

 

13,851,241

 

11.

 

12.

Total assets (sum of items 1 through 11)

 

RCFD2170

 

259,942,982

 

12.

 

13.

Deposits:

 

 

 

 

 

13.

 

 

a.

In domestic offices (sum of totals of columns A and C from Schedule RC-E, part 1)

 

RCON2200

 

154,695,130

 

13.a.

 

 

 

1.

Noninterest-bearing

 

RCON6631

 

34,794,768

 

13.a.1.

 

 

 

2.

Interest-bearing

 

RCON6636

 

119,900,362

 

13.a.2.

 

 

b.

In foreign offices, Edge and Agreement subsidiaries, and IBFs (from schedule RC-E, part II)

 

RCFN2200

 

25,929,109

 

13.b.

 

 

 

1.

Noninterest-bearing

 

RCFN6631

 

0

 

13.b.1.

 

 

 

2.

Interest-bearing

 

RCFN6636

 

25,929,109

 

13.b.2.

 

14.

Federal funds purchased and securities sold under agreements to repurchase:

 

 

 

 

 

14.

 

 

a.

Federal funds purchased in domestic offices

 

RCONB993

 

2,424,160

 

14.a.

 

 

b.

Securities sold under agreements to repurchase

 

RCFDB995

 

8,527,185

 

14.b.

 

15.

Trading liabilities (from Schedule RC-D)

 

RCFD3548

 

469,006

 

15.

 

16.

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases) (from Schedule RC-M)

 

RCFD3190

 

28,305,774

 

16.

 

17.

Not applicable

 

 

 

 

 

17.

 

18.

Not applicable

 

 

 

 

 

18.

 

19.

Subordinated notes and debentures

 

RCFD3200

 

7,779,967

 

19.

 

20

Other liabilities (from Schedule RC-G)

 

RCFD2930

 

6,311,437

 

20.

 

 

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Dollar amounts in thousands

 

21.

Total liabilities (sum of items 13 through 20)

 

RCFD2948

 

234,441,768

 

21.

 

22.

Not applicable

 

 

 

 

 

22.

 

23.

Perpetual preferred stock and related surplus

 

RCFD3838

 

0

 

23.

 

24.

Common stock

 

RCFD3230

 

18,200

 

24.

 

25.

Surplus (exclude all surplus related to preferred stock)

 

RCFD3839

 

12,642,020

 

25.

 

26.

Not available

 

 

 

 

 

26.

 

 

a.

Retained earnings

 

RCFD3632

 

12,583,703

 

26.a.

 

 

b.

Accumulated other comprehensive income

 

RCFDB530

 

-1,383,696

 

26.b.

 

 

c.

Other equity capital components

 

RCFDA130

 

0

 

26.c.

 

27.

Not available

 

 

 

 

 

27.

 

 

a.

Total bank equity capital (sum of items 23 through 26.c)

 

RCFD3210

 

23,860,227

 

27.a.

 

 

b.

Noncontrolling (minority) interests in consolidated subsidiaries

 

RCFD3000

 

1,640,987

 

27.b.

 

28.

Total equity capital (sum of items 27.a and 27.b)

 

RCFDG105

 

25,501,214

 

28.

 

29.

Total liabilities and equity capital (sum of items 21 and 28)

 

RCFD3300

 

259,942,982

 

29.

 

1.

Indicate in the box at the right the number of the statement below that best describes the most comprehensive level of auditing work performed for the bank by independent external auditors as of any date during 2008

 

RCFD6724

 

NR

 

M.1.

 

2.

Bank’s fiscal year-end date

 

RCON8678

 

NR

 

M.2.

 

 

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